Welcome!

News Feed Item

Fortuna Drills Step-out Hole of 3.5 kg/t Ag and 15 g/t Au Over a True Width of 3.7 Meters at Trinidad North

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/21/14 -- Fortuna Silver Mines Inc. (TSX: FVI)(NYSE: FSM)(BVLAC: FVI)(FRANKFURT: F4S) is pleased to announce results for step-out drilling of the Trinidad North discovery located contiguous with the San Jose Mine in Oaxaca, Mexico. Assay results are presented for eight drill holes completed in the fourth quarter of 2013 confirming the continuation of the high-grade Trinidad North zone over a further 200 meter strike extension beyond the limits of existing Inferred Resources. The mineralization remains open to the north and to depth as well as vertically above the 1200 meter level.

Highlights of Step-out Drilling

--  SJOM-331
    --  605 g/t Ag and 3.59 g/t Au (820 g/t Ag Eq) over estimated true width
        of 10.3 m

--  SJOM-334
    --  233 g/t Ag and 2.31 g/t Au (371 g/t Ag Eq) over estimated true width
        of 6.5 m

--  SJOM-335
    --  3,511 g/t Ag and 15.04 g/t Au (4,413 g/t Ag Eq) over estimated true
        width of 3.7 m, and
    --  474 g/t Ag and 2.54 g/t Au ( 626 g/t Ag Eq) over estimated true
        width of 9.1 m

--  SJOM-336
    --  124 g/t Ag and 0.97 g/t Au (182 g/t Ag Eq) over estimated true width
        of 13.4 m, and
    --  368 g/t Ag and 1.80 g/t Au ( 476 g/t Ag Eq) over estimated true
        width of 5.5 m

The Trinidad North discovery was announced in February of 2013 (see Fortuna news release of Feb. 4, 2013) and a maiden resource for the Trinidad North zone was announced in October of 2013. At a 70 g/t Ag Eq cutoff, Inferred Resources at Trinidad North are estimated at 1.9 Mt averaging 269 g/t Ag and 1.67 g/t Au, containing 16.3 Moz Ag and 100.8 koz Au. Resource estimates at higher cutoff grades were also presented and the reader is referred to the October 17, 2013 news release for additional information. Step-out drilling of the Trinidad North discovery was initiated in late September of 2013 and is being carried out from two underground drill stations located at the 1300 meter level. Through December 2013, eight step-out drill holes were completed in the Trinidad North Extension, a 200 meter strike extension beyond the existing resource boundary at Trinidad North.

Dr. Thomas I. Vehrs, Vice President of Exploration, commented: "High-grade silver-gold mineralization over wide vein widths is a hallmark of the Trinidad North system and the step-out drilling has confirmed the continuation of a robust mineralized system over a further 200 meter strike extension. Mineralization is present in two sub-parallel vein systems (Bonanza Vein and Trinidad Vein) and locally in the form of stockwork zones between the two structures. The high-grade silver-gold mineralization intercepted in the northernmost and deepest drill hole, SJOM-335, is a strong indicator of the robust nature of the mineralization and that the potential for further extension of the system to the north and to depth remains high. Stockwork and vein mineralization intercepted in drill hole SJOM-336 at an elevation of 1200 meters is also highly encouraging, indicating potential for expansion of the mineralized zone vertically above the 1200 meter level."

Assay Results for Principal Mineralized Intervals - Trinidad North Extension

----------------------------------------------------------------------------
                                 Est
                                True                                   Ag Eq
             From     To   Int Width     Ag    Au     Pb     Zn    Cu  (g/t)
Hole_Id       (m)    (m)   (m)   (m)  (g/t) (g/t)  (ppm)  (ppm) (ppm)    (i)
----------------------------------------------------------------------------
SJOM-
 329(ii)   271.60 273.45  1.85   1.0  1,509  7.77 11,192 12,077   747  1,975
          ------------------------------------------------------------------
           305.50 314.50  9.00   5.3    904  8.60    723  1,279    91  1,420
          ------------------------------------------------------------------
           329.15 342.10 12.95   7.5    402  3.42  3,806  6,731   501    607
----------------------------------------------------------------------------
SJOM-
 330(ii)   346.85 347.70  0.85   0.4    500  3.46  1,440  6,130    60    708
          ------------------------------------------------------------------
           386.70 396.00  9.30   4.4    288  1.76    462    832    80    393
          ------------------------------------------------------------------
           402.80 411.50  8.70   4.1    347  2.48  2,516  4,454   269    496
----------------------------------------------------------------------------
SJOM-331   242.50 255.35 12.85  10.3    605  3.59    441    855    75    820
          ------------------------------------------------------------------
           281.35 284.85  3.50   2.8    730  4.13  1,353  3,585   162    978
----------------------------------------------------------------------------
SJOM-332   408.30 409.30  1.00   0.4     65  0.33  4,070 10,500 1,320     85
          ------------------------------------------------------------------
           444.80 447.05  2.25   1.1    219  1.04    726  1,535   166    282
----------------------------------------------------------------------------
SJOM-333   339.65 344.00  4.35   2.8    342  1.67    712  1,328   106    442
----------------------------------------------------------------------------
SJOM-334   268.40 277.95  9.55   6.5    233  2.31     49     74    25    371
          ------------------------------------------------------------------
           316.40 318.00  1.60   1.0     79  0.48    185    451    11    108
----------------------------------------------------------------------------
SJOM-335   419.00 425.30  6.30   3.7  3,511 15.04  4,583 10,063   719  4,413
          ------------------------------------------------------------------
 Including 420.05 421.70  1.65   1.0 12,249 51.89 14,362 31,633 2,469 15,363
          ------------------------------------------------------------------
           439.20 454.70 15.50   9.1    474  2.54  1,286  2,771   124    626
          ------------------------------------------------------------------
           495.50 498.00  2.50   1.5    151  0.76    776  1,641    75    197
----------------------------------------------------------------------------
SJOM-336   175.25 177.50  2.25   2.1    104  0.55    312    546    17    137
          ------------------------------------------------------------------
           181.70 187.10  5.40   4.6    101  0.58     44     83     9    136
          ------------------------------------------------------------------
           191.30 207.20 15.90  13.4    124  0.97    209    438    17    182
          ------------------------------------------------------------------
           214.55 220.40  5.85   5.5    368  1.80  1,061  2,023    88    476
----------------------------------------------------------------------------
(i)Interval averages calculated at cutoff of 70 g/t Ag Eq with Ag Eq values
 estimated at Au:Ag ratio of 60 based on assumed metal prices of US$1200/oz
 for gold and US$20/oz for silver and metallurgical recoveries of 89% for
 both gold and silver
----------------------------------------------------------------------------
(ii)Previously reported, see Fortuna Silver Mines news release of Nov. 25,
 2013
----------------------------------------------------------------------------

Trinidad North Exploration and Resource Delineation

Exploration drilling at Trinidad North continues with two drill rigs from existing underground drilling stations with the objectives of extending the mineralization in open directions and the delineation of new mineral resources for incorporation into the resource update scheduled for the second half of 2014. An extension of the crosscut at the 1300 meter level is planned for completion by June of 2014 to facilitate the exploration of a further 300 meter extension of the mineralized system for a total of 500 meters from the northern limit of existing Inferred Resources.

Longitudinal sections for the Bonanza and Trinidad veins showing the location of the step-out drill hole results relative to the Trinidad North maiden resource area are available at the following link:http://www.fortunasilver.com/i/pdf/map/TrinidadNorthExtensionLongitudinalSections_JAN2014.pdf.

San Jose Mine, Mexico

The expansion of the San Jose processing plant capacity to 1,800 tpd was successfully completed in September of 2013. Expansion of the processing plant capacity to 2,000 tpd by the start of the second quarter of 2014 is currently in-process. Production guidance for 2014 is for the processing of 683,000 tonnes of ore averaging 203 g/t Ag and 1.56 g/t Au, resulting in the estimated production of 4.0 million ounces of silver and 30.4 thousand ounces of gold.

Quality Assurance & Quality Control

Following detailed geological and geotechnical logging, drill core samples are split on-site by diamond sawing. One-half of the core is submitted to the ALS Chemex Laboratory in Guadalajara, Mexico. The remaining half core is retained on-site for verification and reference purposes. Following preparation, the samples are assayed for gold and silver by standard fire assay methods and for silver and base metals by ICP and atomic absorption methods utilizing aqua regia digestion. The QA-QC program includes the blind insertion of certified reference standards and assay blanks at a frequency of approximately 1 per 15 normal samples as well as the inclusion of duplicate samples for verification of sampling and assay precision levels.

Qualified Person

Thomas I. Vehrs, Ph.D., Vice President of Exploration, is the Qualified Person for Fortuna Silver Mines Inc. as defined by National Instrument 43-101. Dr. Vehrs is a Founding Registered Member of the Society for Mining, Metallurgy, and Exploration, Inc. (SME Registered Member Number 3323430RM) and is responsible for ensuring that the information contained in this news release is an accurate summary of the original reports and data provided to or developed by Fortuna Silver Mines.

Fortuna Silver Mines Inc.

Fortuna is a growth-oriented, silver-, gold- and base metal-producer focused on mining opportunities in Latin America. Our primary assets are the Caylloma silver mine in southern Peru and the San Jose silver-gold mine in Mexico. The Company is selectively pursuing additional acquisition opportunities. For more information, please visit our website at www.fortunasilver.com.

ON BEHALF OF THE BOARD

Jorge Ganoza, President, CEO and Director

Fortuna Silver Mines Inc.

Trading symbols: (NYSE: FSM)(TSX: FVI)(BVLAC: FVI)(FRANKFURT: F4S)

Forward looking Statements

This news release contains forward-looking statements which constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. When used in this document, the words such as "anticipates", "believes", "plans", "estimates", "expects", "forecasts", "targets", "intends", "advance", "projects", "calculates" and similar expressions are forward-looking statements.

The forward-looking statements are based on an assumed set of economic conditions and courses of actions, including estimates of future production levels, expectations regarding mine production costs, expected trends in mineral prices and statements that describe Fortuna's future plans, objectives or goals. There is a significant risk that actual results will vary, perhaps materially, from results projected depending on such factors as changes in general economic conditions and financial markets, changes in prices for silver and other metals, technological and operational hazards in Fortuna's mining and mine development activities, risks inherent in mineral exploration, uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries, the timing and availability of financing, governmental and other approvals, political unrest or instability in countries where Fortuna is active, labor relations and other risk factors.

Although Fortuna has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Contacts:
Fortuna Silver Mines Inc.
Investor Relations:
Carlos Baca
Tel (Lima): +51.1.616.6060, ext. 0
www.fortunasilver.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Vulnerability management is vital for large companies that need to secure containers across thousands of hosts, but many struggle to understand how exposed they are when they discover a new high security vulnerability. In his session at 21st Cloud Expo, John Morello, CTO of Twistlock, addressed this pressing concern by introducing the concept of the “Vulnerability Risk Tree API,” which brings all the data together in a simple REST endpoint, allowing companies to easily grasp the severity of the ...
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
"NetApp is known as a data management leader but we do a lot more than just data management on-prem with the data centers of our customers. We're also big in the hybrid cloud," explained Wes Talbert, Principal Architect at NetApp, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...